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Alicia Munnell’s Latest Book Proposes Reasonable Solutions
These words fit the Boston Globe’s description of Munnell as one not to sugarcoat her opinions. Munnell is no newcomer to the American retirement dilemma having served as a top economist at the Federal Reserve Bank of Boston in 1991 after earning her doctorate in economics from Harvard University. She also served as an assistant secretary of the Treasury and a member of the president’s Council of Economic Advisors in the Clinton administration.
“Falling Short: The Coming Retirement Crisis & What To Do About It’ is Munnell’s 23rd published book. In it she outlines the abandonment of traditional pensions by companies toward 401(k) plans. In fact in 1983 nearly two thirds or retired workers enjoyed a traditional pension plan in addition to Social Security. These factors coupled with the projection that Social Security will be unable to meet its obligations in 20 years spell trouble for retirees.
Having earned a reputation as a firebrand who points out inconvenient truth’s her book serves as a warning and a call for Americans to…
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